EXECUTIVE CHANGES: New CEOs At Minds + Machines And ULS Technologies
Mon, 25th Jan 2021 16:59
(Alliance News) - The following is a round-up of London-listed company director and manager changes announced on Monday and not separately reported by Alliance News:
Minds + Machines Group Ltd - operator of internet top-level domains - Confirms Tony Farrow as chief executive officer, having joined in October as interim CEO. Farrow will join the board as well. Minds + Machines says 2020 revenue was largely in line with 2019, with renewal revenue consistent at 68%. Billings were down 3% due to a significant drop in AdultBlock billings in 2020 follow the product's launch in 2019. AdultBlock is a brand-protection tool. It stops third parties from registering domain names containing trademark names in TLDs such as .porn. "We lost some of the momentum after the initial launch of AdultBlock in FY 2019," says Farrow. "However, FY 2021 was always the target year for the full rollout of this new product, and I am encouraged by the dialogue with our channel partners to really move AdultBlock in FY 2021." Domains under management declined 19% as Minds + Machines focused on more profitable transactions. Cash from operations was USD6.4 million in 2020, leaving USD8.9 million in the bank a year-end.